Sula Iron & Gold completes current Ferensola drilling campaign

Shares in Sula Iron & Gold fell almost 9% on confirming completion of the current diamond drilling campaign at the Ferensola Gold Project.

Sierra Leone-focused Sula said there were a total of 14 drill holes for 3788.5m from selected locations at the project.

"It is very pleasing to report not only the completion of this phase of drilling at Ferensola, but also to note that an additional 4 holes, representing almost 1,400m, were successfully completed against the original plan," said chief executive Roger Murphy.

He said this increased Sula's understanding of this very interesting orebody and was possible because of the Equity Drilling deal structure and the ongoing analysis of the drilling by its technical experts that enabled siting of further holes.

"The Kuwait hole is particularly interesting as it targets an area that was not part of our original planning for this phase and may point to an entirely new target," said Murphy.

"We look forward to reporting assay values from samples already in the labs and those en route as they are received."

At 10:49 BST, shares in AIM-listed Sula were down 8.73% to 0.58p each.